450.2501a Board of directors; minimum age; requirements.
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450.2501a Board of directors; minimum age; requirements.
Sec. 501a.
(1)A corporation organized for purposes described in section 501(c)(3) of the internal revenue code of 1986 may include 1 or more directors on its board who are 16 or 17 years of age as long as that number does not exceed 1/2 the total number of directors required for a quorum for the transaction of business.
(2)If a corporation described in subsection
(1)may have more than 1 director who is 16 or 17 years of age, the corporation shall state in its articles of incorporation the number of directors who may be 16 or 17 years of age.
History: Add. 1998, Act 444 , Imd. Eff. Dec. 30, 1998